just that perhaps we have overvalued it for the past 70-80 years.
I don't agree with this at all think this is a misuse of the word value.
If we are not valuing music as much, why do people download so much of it for free? Why do we listen to it so much? Concert ticket sales were at record highs before the 2008 recession. People are buying less, because they can get it for free. I think that's part because of opportunity and we do have a growing entitlement mentality. But also as you've said because the music industry was slow to react. It took 4 years from the time Napster first showed up for iTunes to go live. That was way too long and basically got a generation used to "stealing" music.